Companies

Dniprooblenergo (DNON)

Business Profile

Dniprooblenergo, Ukraine’s largest electricity distributor, serves Dnipropetrovsk region (area: 31,900 km2; population: 3.5 million). The oblenergo owns a 63,500 km low-voltage grid with 10,964 MVA of transformer capacity. Its customer base consists of 1.5 million households, 24,000 small- and medium-sized companies and 1,600 large industrial enterprises, including steel mills (Arcelor Mittal Kryviy Rih), pipe plants (Interpipe NPR) and chemical plants (Dniproazot, Dniproshyna).

Financial Summary

Indicator2014201520162017E2018F
Sales ($m)1,3501,022************
EBITDA ($m)323************
Net Income ($m)4(26)************
Net Debt ($m)19(2)************

Valuation Summary

Indicator2014201520162017E2018F
P/E30.5neg.************
P/Sales0.080.11************
EV/EBITDA43.74.8************
P/Book1.191.45************
Prices are quoted in UAH.


*Data available to Dragon Capital's institutional clients only.